China’s US$10.8b trade short cut: new Pinglu Canal prepares to supercharge Asean shipments

AI Summary

The $10.8 billion Pinglu Canal project in China is nearing completion with delivery of its first command vessel. The canal aims to enhance shipping and trade efficiency with ASEAN countries, forming a strategic waterway integral to China's trade expansion goals.

Aptly dubbed the Pinglu 001, the first command and management vessel for the Pinglu Canal was delivered on Monday and will soon enter service as China prepares to open the strategic waterway designed to support surging trade with Southeast Asia. The delivery marks one of the final steps before the 72.7 billion yuan (US$10.8 billion) megaproject is expected to officially open later this month after years in the making. The canal is a signature project for the world’s second-largest economy as it...